Various news services over the weekend reported that the number of foreclosures in Florida will increase – primarily due to the deteriorating job market. Now not only will sub-prime borrowers continue to get foreclosed, but average borrowers, who had good credit (or so-called prime borrowers) are now being foreclosed. Unfortunately, many of these homeowners are losing their income and even when jobs get replaced, the new job is usually lower-paying and will not support the mortgage payment.
So it is in that scenario that we are glad when a foreclosure mill has to pay us our legal fees in a wrongful foreclosure case such as in the situation below.
The Florida Wrongful Foreclosure Defense Case
The facts were simple. The bank sued the wrong condo unit owner. Our client had been making all his payments yet somehow the bank and their counsel sued the wrong condo-owner. They slapped a lien on the wrong unit and that is where they crossed the line. The legal name for this situation is slander of title! Well when the bank’s counsel learned of their error, we were more than gracious to settle quickly and get the lien released and, yes… get our fees paid.
It’s a small victory… but when confronted with the long odds we face each day… yes we take professional pride in these small victories. It’s like David and Goliath. We are David representing all the average folks while the billion and trillion dollar banks are Goliath… literally. We truly believe the banks caused this crisis that has affected the whole economy. They knew or should have known that paying originators to effectively lie and cheat as long as they provided a live borrower who could make one monthly mortgage payment would ultimately spell disaster.